![theatlantic:
America’s Housing Trap: How Young Homeowners Lost Out by Buying
Last week, the real estate researchers at Zillow released their report on underwater homeowners — those who owe more on their mortgage than their house is worth — for the second quarter of 2012. They estimate that 48 percent of mortgage borrowers younger than 40 are currently underwater. It’s 39 percent among those who are 20-24 years old; 48 percent for the 25-29 cohort; and 51 percent for the 30-34 demographic. Overall, they’re more likely to be underwater than middle aged and elderly owners, a result of the fact that many Millennials were buying at the peak of the housing boom.
Read more. [Image: Zillow]](http://25.media.tumblr.com/tumblr_m9fbhtzTcf1qcokc4o1_500.png)
America’s Housing Trap: How Young Homeowners Lost Out by Buying
Last week, the real estate researchers at Zillow released their report on underwater homeowners — those who owe more on their mortgage than their house is worth — for the second quarter of 2012. They estimate that 48 percent of mortgage borrowers younger than 40 are currently underwater. It’s 39 percent among those who are 20-24 years old; 48 percent for the 25-29 cohort; and 51 percent for the 30-34 demographic. Overall, they’re more likely to be underwater than middle aged and elderly owners, a result of the fact that many Millennials were buying at the peak of the housing boom.
Read more. [Image: Zillow]
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About Atlantic Magazine:
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oh man it’s
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I love that the person who wrote this was one of the authors of that bullshit “I don’t get why young people aren’t...
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Mercy!
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kevindrakewriter reblogged this from npr and added:
Why are we so cheap? Oh yeah right our credit got gain banged by home and education loans.
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indhouse reblogged this from upworthy and added:
A friend of mine has gone to saying that “home ownership” is a lie. It’s about owning people. Think!
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